Pactiv Evergreen reports Q4 EPS 12c, consensus 21c

Reports Q4 revenue $1.27B, consensus $1.319B… Jon Baksht, Chief Financial Officer of Pactiv Evergreen, added, “We are proud of the Company’s ability to deliver consistent improvement in its profitability profile. During the year, the Company achieved significant progress against its long-term financial priorities. Notably, the Company reduced its total debt by $550 million, which improves its ability to invest in strategic opportunities that strengthen the business. Looking ahead, our team remains committed to actively managing costs and driving operational excellence initiatives across the organization. We believe those efforts, coupled with the solid momentum sustained to date, positions the Company for profitable growth in 2024. The strength of the balance sheet and our ability to consistently generate cash gives us confidence in the Company’s ability to navigate macroeconomic volatility, profitably grow through inflationary cycles and deliver solid returns for shareholders.”